Calling all contractors, developers, and Opportunity Zone investors! We are pleased to present for sale a 9 unit RTI development opportunity in PRIME North Hollywood! Approved Plans call for a 4-story 9 unit apartment building with ON-GRADE PARKING and rooftop deck! Unit mix consists of five 2 Bedroom + four 1 Bedroom units, with 1 of the 9 units set aside for very low income, and a total of 10 parking spaces. Total Building Area is 7,510 sqft and the lot is fully FLAT. The site is situated in the heart of North Hollywood less than 1 mile from the new NOHO WEST complex (Trader Joes, Creamistry, Regal Cinemas, Nordstrom Rack & LA Fitness coming soon!) and less than 2 miles from the NOHO ARTS district!! (Magnolia & Lankershim) Take advantage of a "ready to go" project and avoid the lengthy and costly entitlement process!!! The site also lies within a qualified Opportunity Zone = potential for future tax savings! Seller has already paid the new building permit fee of ~$75,000, saving a builder time and money. Current improvements include a duplex occupied by a single tenant paying $2,780/month. Do not miss this opportunity to build in the heart of North Hollywood close to all shopping, restaurants, transportation, and entertainment that NoHo has to offer its residents. Contact listing agent for more details! Do not disturb current occupant.
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